• Southern Insurance

How Much is Car Insurance in Kelowna?

Updated: Oct 17

If you’re like most new drivers, you likely can’t wait to own your first car and head out on the open road. First, however, you’ll have to deal with the details. Being a licensed driver means that your vehicle must be insured and registered at all times in order to protect yourself and other drivers on the road if an accident were to occur.

How much is car insurance in Kelowna, you ask? The answer isn’t as simple a matter as that. Where auto insurance in Kelowna is concerned, a number of factors are considered in determining how much you will pay for your monthly insurance program. To understand this, it is first important to understand the business model of the auto industry.





Auto Insurance in Kelowna

Insurance companies operate by assessing risk. They look at the perceived risk of your car being involved in a car crash to det


ermine how much you will pay, and they distribute that risk across a larger group of insured persons. If they determine risk accurately, there should be fewer accidents to pay for than there are premiums to collect.

There are many factors that come together to determine how your insurance company will charge you for the privilege of driving.


Factors in Insurance Premiums


When you get a car insurance quote in Kelowna, your insurance company arrives at that number by looking at a broad set of factors that could affect your driving.


Driving Record


When you are a new driver, your insurance company does not have the ability to look at your driving history to help determine how risky you are as a driver, and this will impact your premium. Since new drivers are more likely to have an incident due to their lack of driving experience, being a new driver will set your premiums higher than a seasoned driver with the same circumstances.


Your Coverage

Since car insurance can exist at various levels, the amount of coverage you select will impact the premiums you pay. You may choose to select a basic level of coverage through ICBC insurance in Kelowna or you can select additional coverage, including coverage through private insurance firms like Southern Insurance. The law requires that you have a basic level of coverage in order to legally operate your vehicle. This ensures that if you were to hurt someone in an accident, or if you were hurt, there would be sufficient funds available to pay damages without the risk of bankruptcy. Additional coverage is available to purchase for incidentals such as theft and vandalism.


Your Deductible

Your deductible represents the amount of money that must be paid out of pocket before your insurance funds will begin to be paid out. For example, a deductible of $500.00 means that in the event of an incident, you will pay that amount toward resolution and your insurance will cover the rest. Deductible amounts vary based on the coverage you choose. Deductibles are used as a measure to dissuade drivers from accessing their coverage unnecessarily, which drives the cost of premiums up across the board.


Your Driving Frequency

Your insurance company will want to know about how you intend to use your vehicle and how often. Driving a few times per week within a relatively short distance will cost less than the premiums associated with driving long distances daily around a busy city.

Car Make and Model

The kind of vehicle you drive could significantly impact the amount that you will pay in monthly insurance premiums. For example, driving a family sedan or minivan will undoubtedly cost less to insure than a new sports car. This is because there is more likelihood that a sports car will travel at excess speeds and be a target for car thieves.


Citations

If you’ve previously been insured under a parent or guardian’s plan, getting your own vehicle insurance will require that insurance takes a look at your citation history. If you have tickets previously issued to you, the demerits that you incur will impact the cost of your coverage. If you are interested in decreasing these demerits, you might consider taking a defensive driving course which can erase some of your demerit points.

If you are a new driver, take heart. As you progress in age and driving experience, your insurance premiums should decrease – unless you become involved in at-fault claims under your insurance. A clear driving record, free from demerits and at-fault claims will help to keep your premiums at a reasonable rate- since your insurance company will assess your overall risk as being lower. Defensive and responsible driving is the key to keeping premiums affordable.

Looking for cheap car insurance in Kelowna? Contact Southern Insurance today for a quote or visit our website at: https://www.southerninsurance.ca/